PayPal Money Pools FAQ's
The truth Is - Collctiv makes collecting group fees simple in a way Money Pools couldn't.
Hello, I'm George, an Organiser. I've always organised ever since I can remember. I like order; I like being in control.
As such, I have been given responsibilities ever since school.
It follows me around like a bad smell.
It's never a burden. Secretly, I revel in the power that organising affords me, especially amongst Contributors whom I feel would crumble without Organisers like myself to sweep up the chaos from behind them.
I'm like the Wizard from the Wizard of Oz, but with a penchant for Organisation, tucked away in the background, quietly organising and pulling the strings.
It's where my superpowers lie.
Often, I get tasked with collecting money from a group.
To do this, I have previously used PayPal Money Pools.
But PayPal Money Pools no longer exists and with good reason.
Today, I intend to explore some of those reasons by answering the questions emerging from the internet!
What are those questions that have emerged from the internet?
Here are the questions that have emerged from the internet!
(Collctiv is the number one Money Pools alternative and can be downloaded for free here)
Can I continue to receive donations after the collection has reached its goal?
I speculate that with PayPal Money Pools, the answer would have been yes. You can continue to receive donations after the collection has reached its goal.
But it doesn't exist anymore, does it?
No panic, Collctiv (whom I will reference frequently) are the number alternative to PayPal Money Pools!
So in response to the original question.
With Collctiv, you have the option to set a pot to be either open or closed by using the lock icon in the corner of the app!
You will be able to contribute according to how this is set but will always be able to revisit and re-open a once closed pot, regardless of the fundraising target!
Will my fundraiser stop receiving more donations after the end date?
With Money Pools, who cares anymore?
But let's talk about Collctiv.
If your pot is set as open, then the contributions can be limitless!
Actually, through my experience of using Collctiv, people tend to be more willing to donate a more significant amount when using the app!
How do I extend a fundraiser?
Collctiv makes it easy to extend a fundraiser!
Within the edit section, you will have the option to set a payment due date.
This can be moved around as you like.
If a Collctiv pot has no expiration, then the only way to stop receiving funds is by setting the pot status to closed!
Collctiv gives you a full ability to extend a fundraiser and choose when you wish to stop receiving payments!
I'm not sure what PayPal did?
How do I finish my collection?
How do you finish a collection with Collctiv?
When you are confident you have collected all the money you need, you simply set the pot status as closed and select to withdraw the funds.
In the withdrawing process, you can add the bank account you wish to withdraw into and even select the amount of the collection you want to take out!
This can be done at any time regardless of whether or not the pot has been closed or not.
After that, you can choose to archive the pot, removing it from your pot screen entirely!
Can I hide grant amounts and information about the donors in my collection?
If you don’t set a target on your pot, only you will be able to see the names of people contributing and how much they’ve contributed.
If you set a target on your pot then your contributors will also be able to see who has contributed and how much. Although, people can choose to be anonymous if they wish!
Can I contribute to my own collection?
Yes! A pot admin can 100% contribute to their own pot.
More power to them!
Is there a limit to how much money I can raise with PayPal?
With PayPal, who knows? We’ve all missed that boat anyway.
With Collctiv, no!
You may set a fundraising target; you may create a deadline.
But you cannot limit people who want to contribute.
In my experience of organising and scrounging about for cash - why would you ever want to?
In reality - PayPal Money Pools made collecting group payments more complicated than it had to be.
Collctiv makes it simple; that's what makes it so beneficial for Organisers like myself.
With confidence, I can admit the days of being left out of pocket and chasing fees are firmly behind us.
It's almost as if Contributors enjoy the stress?
Organisers bring people together.
Since 2019 - Collctiv has helped over 230,000 people from 55 countries come together by making it simple for Organisers to collect money from their groups.
Whether it's group gifts, retirement presents or sports teams - download our free app today and start bringing people together!